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Mediaset sells stake in Spain's Canal+ pay-TV [ANSA]

(ANSA Via Acquire Media NewsEdge) (ANSA) - Milan, July 4 - The Spanish division of former Italian premier Silvio Berlusconi's Mediaset empire has sold its 22% share of DTS, which owns Spain's Canal+ pay-TV, to telecoms giant Telefonica, the Spanish company said Friday. The deal should be worth around 365 million euros for Mediaset. Telefonica in June offered Mediaset Espana 295 million euros for its 22% stake in DTS, plus 30 million euros for Mediaset to waive its right of first refusal on part of a stake in DTS held by another company, Prisa. The offer also stipulated that Mediaset Espana will receive 10 million euros more if Telefonica successfully completes its acquisition of the 56% of DTS held by Prisa. The deal also features up to 30 million on top of that depending on how Canal+ performs in the four years after the acquisition of the 56% stake.